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Detour Gold appoints new chief financial officer

Jaco Crouse takes on new position effective June 24
Detour Lake Mine
Detour Lake Mine file photo. (Detour Gold)

Detour Gold has appointed Jaco Crouse as its new chief financial officer (CFO), effective June 24.

The company made the announcement in a May 21 news release.

Crouse replaces former CFO James Mavor, who announced his departure on Feb. 20.

"We are very pleased to welcome Jaco Crouse as our new CFO. His global expertise as well as Canadian specific experience in strategic financial operations will play a major role in delivering efficiency gains as we embark on running Detour Gold as a profitable business,” said Mick McMullen, Detour’s president and CEO, in the release.

“He has a strong business improvement background, which is exactly what Detour requires right now, and I feel confident that he will provide strong leadership within the finance team to drive efficiencies."

Detour said Crouse has more than 16 years of experience in financial management and reporting, mine financial planning, business optimization and strategy development.

He most recently served as vice-president of finance and CFO at Triple Flag Mining Finance Ltd., a Toronto-based private metal streaming business where he was responsible for the development and implementation of all finance and reporting systems, arranging a US$200-million revolving credit facility with a US$100-million accordion feature, and was part of the team that committed close to US$1 billion in royalty and streaming transactions.

Crouse has additional experience with Barrick Gold Corp., Xstrata Alloys, Xstrata Nickel, and Glencore.

He is a chartered professional accountant (Ontario), chartered accountant (South Africa), and a certified risk manager (South Africa).

Detour Gold noted it would hold its annual and special shareholders meetings on June 5 in Toronto.

Detour Gold operates the Detour Lake gold mine, located 300 kilometres northeast of Timmins, where gold production started in February, 2013.